Monday, February 11, 2008

The Last Password you will ever have to Remember

Wouldn’t that be great? One password and one username to securely logon to all of your internet sites.

We are moving closer to that day. Last week, Microsoft, Yahoo, IBM, VeriSign and Google all signed up with the OpenID standard. That is a lot of muscle backing the OpenID Foundation which is an industry-wide effort to empower users with portable Web identities, or OpenIDs.

OpenID is free technology that simplifies the on-line user experience by eliminating the need for multiple user names across Internet sites, enabling individuals to take more control and ownership of their digital identities.

The way OpenID works is that it would recall your username and password from one central site instead of each web site having to store that information. That should reduce account management costs and reduce the risks of security breaches by limiting the amount of personal information businesses need to store and protect.

OpenID enables individuals to convert one of their already existing digital identifiers -- such as their personal blog's URL -- into an OpenID account, which then can be used as a log-in at any Web site supporting OpenID.

More information on this technology can be found at

For more on personal finance check out the Carnival of Taxes. My article: Gold ETFs - the good, the bad and the taxes was included this week.

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